油脂油料产业日报-20250801

Report Summary 1. Core Views - Palm Oil: Internationally, Malaysian BMD crude palm oil futures are oscillating between 4,200 - 4,250 ringgit, facing potential downward pressure due to increased production and decreased exports. A break below 4,200 ringgit may open a new downward space towards 4,000 ringgit. Domestically, Dalian palm oil futures are strongly oscillating at high levels between 8,800 - 8,900 yuan. Affected by the potential decline of Malaysian palm oil and rising domestic port inventories, there is downward pressure. Support levels are at around 8,600 and 8,500 yuan. The long - term upward trend remains unchanged, currently in a phased adjustment [3]. - Soybean Oil: Market demand has improved recently. Based on export news, the market anticipates a price increase, leading some traders to show purchasing interest. Factory sales exceeded 30,000 tons yesterday. Some regions have relatively low inventory pressure with rising basis quotes, while regions like Guangxi still face inventory issues affecting basis quotes. In the short - term, basis quotes will fluctuate slightly and may rise as domestic demand increases [3]. - Bean Meal: China is accelerating the purchase of South American soybeans to ensure Q4 supply. Brazilian premiums are rising, supporting import costs. Near delivery, institutions are accelerating position transfers, with the short - term 09 contract oscillating around 3,000 yuan. Spot prices at oil mills have increased by 10 - 40 yuan/ton. In August, due to Sino - US tariff concerns, terminal point - pricing risk - aversion has increased, improving trading volume. Mid - August may see a peak in oil mill bean meal inventories, and the market is brewing bullish sentiment, with many looking to buy far - month contracts at low prices [16]. 2. Price and Spread Information Oils - Palm Oil: Palm oil 01 is at 8,968 yuan/ton with a 0.4% increase; 05 is at 8,772 yuan/ton with a 0.76% increase; 09 is at 8,970 yuan/ton with a 0.27% increase. BMD palm oil主力 is at 4,249 ringgit/ton with a 0.45% increase. The Guangzhou 24 - degree palm oil price is 8,930 yuan/ton, down 10 yuan. The Guangzhou 24 - degree basis is 40 yuan/ton, up 22 yuan [6]. - Soybean Oil: Soybean oil 01 is at 8,226 yuan/ton with a 0.03% increase; 05 is at 7,848 yuan/ton with a 0.11% increase; 09 is at 8,274 yuan/ton with a 0.33% increase. CBOT soybean oil主力 is at 54.75 cents/pound, down 2.42%. Shandong first - grade soybean oil spot is at 8,240 yuan/ton, up 30 yuan. The Shandong first - grade soybean oil basis is 18 yuan/ton, up 8 yuan [12]. - Oil Spreads: Various oil spreads such as P 1 - 5, P 5 - 9, Y - P 01, etc. are provided, showing different price changes [4]. Oilseeds - Bean Meal: Bean meal 01 is at 3,037 with a 0.03% increase; 05 is at 2,738 with a 0.11% increase; 09 is at 3,010 with a 0.33% increase. - Rapeseed Meal: Rapeseed meal 01 is at 2,409, down 0.08%; 05 is at 2,375 with a 0.04% increase; 09 is at 2,675, down 0.89%. - Spreads: Spreads like M01 - 05, RM01 - 05, etc. are presented with their respective price changes [17][18][20].